The Real Deal New York

Chelsea neighborhood news

  • From left: Domingo

    From left: Domingo Zapata’s planned mural and 446 West 14th Street

    Following a failure to secure city approval, Town Residential is scrapping plans to install a colorful floral mural outside the brokerage’s High Line-adjacent outpost.

    The firm reportedly canceled the project this week without telling the artist, Spanish-American painter Domingo Zapata, according to DNAinfo. [more]

  • Rendering of 124 West 16th Street

    Rendering of 124 West 16th Street

    Area residents gathered outside a Chelsea church Sunday to lambast a developer’s plans to top the worship spot with a luxury condominium topper.

    The 11-story residential building planned by Einhorn Development Group would include 14 residential units and has been fully approved. The foundation for the 124 West 16th Street structure is already in place, but that does little to appease angry neighbors. [more]

  • From left: Walnut Hill's Stephen Yang, 31 West 27th Street and Woody Heller

    From left: Walnut Hill’s Stephen Yang, 31 West 27th Street and Woody Heller

    Private equity firm Westbrook Partners just closed on the acquisition of a Midtown South office building at 31 West 27th Street for north of $80 million, The Real Deal has learned. [more]

  • 455-west-19th-TOP

    Clockwise from top left: Brock Emmetsberger, 455 West 19th Street and James Nelson

    A Chelsea development site on West 19th Street, between Ninth and 10th avenues, has sold for $22.5 million. [more]

  • 515 West 29th Street

    515 West 29th Street

    The Bauhouse Group plans to turn a High Line-adjacent commercial building into a residential property — and a gut-renovation toward that end is already underway.

    Bauhouse closed on the 35,000-square-foot, six-story property at 515 West 29th Street in September, and plans to construct a rooftop addition that will give the building an additional 40,000 square feet. Bauhouse paid $24.4 million for the existing building, but shelled out another $6 million in the last of three air rights deals last week, enabling the additional square footage. [more]

  • 540-544 West 26th Street

    540-544 West 26th Street

    In a rare break from the condominiums sprouting around the High Line in Chelsea, Morris Adjmi is designing a new art gallery at 540-544 West 26th Street.

    Located between the High Line and Eleventh Avenue, the 135-foot-tall building, developed by real estate private equity firm Savanna Fund, will spread across roughly 129,125 square feet and house gallery space on the first and second floors. [more]

  • Cushman's Nat Rockett and 146-148 West 28th Street

    Cushman’s Nat Rockett and 146-148 West 28th Street

    Sovereign Partners tapped commercial brokerage Cushman & Wakefield to market the sale of its luxury residential building at 146-148 West 28th Street in Chelsea.

    Nat Rockett, Helen Hwang and Brian Szczapa of Cushman’s New York Capital Markets team are marketing the 28,072-square-foot property, which holds 12 apartment units. [more]

  • 229 West 28th Street

    229 West 28th Street

    A Cheslea office building that once housed a much maligned neighborhood club, and was expected to fetch up to $90 million in a sale, has changed hands. [more]

  • t

    300 West 22nd Street

    Icon Realty Management has secured $33 million in financing for Chelsea’s GEM Hotel, replacing an initial $22 million mortgage closed in January of 2012.

    The first mortgage and mezzanine financing, arranged by Mission Capital Advisors and provided by Ladder Capital, was split between a CMBS loan with a 30-year amortization and an interest-only mezzanine facility, a source familiar with the negotiations told the New York Observer. Mission Capital’s Jordan Ray, Jason Cohen and Ari Hirt led the negotiations on the new debt, which closed on Feb. 28. [more]

  • Sales launch at funky High Line condo

    March 05, 2014 01:35PM
    A rendering of 505 West 19th Street

    A rendering of 505 West 19th Street

    Sales have launched at 505 West 19th Street, a new High Line-adjacent Chelsea condominium project comprised of two 10-story buildings. [more]

  • Modern-19

    Rendering of 138 West 19th Street

    Developer Erez Itzhaki has wrapped construction on new boutique Chelsea development known as Modern 19.

    Last month, Shlomi Reuveni of Brown Harris Stevens Select was hired to market the six floor-through units and a duplex penthouse at 138 West 19th Street, as The Real Deal reported. The project is a sister to Modern 23 at 350 West 23rd Street in Chelsea. But Itzhaki has yet to decide whether wants the units to be condominiums or rentals. [more]

  • Rendering of the Abington House

    Rendering of the Abington House

    The Related Companies and Abington Properties kicked of leasing at the Abington House on the High Line Monday. [more]

  • 555-6

    Rendering of 555 Sixth Avenue

    Stonehenge Partners has inked a deal with its first retail tenant at the newly-constructed 555 Sixth Avenue. The inaugural tenant, Boutique Fitness Experience (BFX) Studio, is a high-end, high-concept personal fitness company. [more]

  • 500 West 21st Street condos hit the market

    February 27, 2014 06:36PM
    Renderings of 500 West 21st Street

    Renderings of 500 West 21st Street

    Sherwood Equities’ 500 West 21st Street’s first seven condominium units are now on the market — and three are already in contract. [more]

  • Renderings of 505 West 19th Street

    Renderings of 505 West 19th Street

    New renderings and pricing details for HFZ Capital’s High Line buildings, designed by architect Thomas Juul-Hansen, have surfaced. [more]

  • Clockwise from left: Regus CEO Mark Dixon, WeWork CEO Adam Neumann and a WeWork space at 175 Varick Street

    Clockwise from left: Regus CEO Mark Dixon, WeWork CEO Adam Neumann and a WeWork space at 175 Varick Street

    (For related story, see “Space invaders: The five biggest shared space providers in NYC)

    Late last month, shared office space provider WeWork, founded by pony-tailed Kabbalah practitioner Adam Neumann, made its second foray into Midtown South. WeWork’s 115,000-square-foot deal at 113-133 West 18th Street put it in a prime position to lure startups looking to bask in the tech-crazed aura of Twitter, which recently announced it would set up its New York headquarters just a block away at 245-249 West 17th Street. [more]

  • Renderings of 500 West 21st Street

    Renderings of 500 West 21st Street

    The long-stalled residential condominium project at High Line-adjacent 500 West 21st Street is gathering steam — the property’s teaser site appeared Wednesday. [more]

  • From left: Stephen Powers and 540 West 21st Street

    From left: Denham Wolf Real Estate’s Stephen Powers and 540 West 21st Street

    Nonprofit feeder fund the Atlantic Foundation, founded by an heir to the Johnson & Johnson fortune, has unloaded a High Line-adjacent site for $50 million. [more]

  • Chelsea Triangle

    Chelsea Triangle

    Commercial landlords in Chelsea and the Meatpacking District may soon have to pony up cash to fund a proposed $1.6 million Business Improvement District. The BID, which would need City Council and mayoral signoff, would merge the two neighborhoods’ improvement associations and provide services such as sanitation and public safety. [more]

  • 113-133 West 18th Street (Credit: PropertyShark) and Adam Neumann

    113-133 West 18th Street (Credit: PropertyShark) and Adam Neumann

    To better reap the rewards of Midtown South’s flourishing tech scene, Adam Neumann’s WeWork is taking about 115,000 square feet at 113-133 West 18th Street, The Real Deal has learned. The shared office specialist will set up shop about a block away from Twitter’s new headquarters. [more]